Overview
- Dollarama, which issued guidance Tuesday, projected 3% to 4% comparable sales growth for the new fiscal year and the stock fell more than 7% after the forecast trailed some expectations.
- Fourth-quarter sales reached C$2.1 billion with net earnings of C$392.5 million, and Canadian same-store sales rose 1.5% after a lost pre-holiday week and harsh weather cut traffic.
- Full-year results showed about C$7.3 billion in revenue and diluted earnings per share of C$4.73, with Canadian comparable sales up 4.2% for the year.
- Management said the Australian business will post near-term losses as it absorbs AUD35 million to AUD45 million in integration costs, while international expansion continues to reshape the mix.
- The company raised its quarterly dividend to 12 cents per share and plans 60 to 70 new Canadian stores, alongside ongoing share buybacks.